CBC Group and Mubadala's Strategic Acquisition of UCB's Mature Portfolio in China
Deal News | Nov 30, 2024 | PR Newswire Cision CBC Group
CBC Group, Asia’s leading healthcare-dedicated asset management firm based in Singapore, together with Mubadala Investment Company, has completed the acquisition of UCB’s mature neurology and allergy business in China for $680 million. This acquisition forms part of CBC’s strategy to enhance its regional pharmaceutical market presence and adds to its dynamic portfolio in China. The newly formed entity, NeuroGen Pharma, will be led by a seasoned management team, leveraging CBC’s investor-operator approach to drive advancements in the central nervous system therapeutics sector. The transaction encompasses UCB's notable brands and the Zhuhai manufacturing site, anchoring CBC's ambition to develop a robust CNS biopharma platform in a market valued at $33 billion. This acquisition reflects CBC's strategy to create value and improve patient outcomes by meeting the rising demand for neurology and allergy treatments in China. CBC's CEO, Fu Wei, and Mubadala's Head of Asia, Mohamed Albadr, emphasized the strategic partnership aimed at delivering innovative healthcare solutions. The acquisition also aligns with UCB’s long-term goals in China, aiming to launch new medicines in the fields of immunology, neurology, and rare diseases, thereby continuing its commitment to improving patient care.
Sectors
- Biopharmaceuticals
- Healthcare Investment
Geography
- China – The acquisition focuses on UCB’s operations in China, aiming to build a leading neurology company in the region.
- Singapore – CBC Group, the main acquisitor, is headquartered in Singapore, denoting its operational base.
- Abu Dhabi – Mubadala, co-investor in this acquisition, is a sovereign investor from Abu Dhabi.
Industry
- Biopharmaceuticals – The article involves the acquisition of UCB’s neurology and allergy business by CBC Group, establishing NeuroGen Pharma to focus on CNS therapeutics.
- Healthcare Investment – CBC Group and Mubadala's investment in UCB's portfolio indicates significant activity within healthcare asset management and investment.
Financials
- US$680 million – The transaction value for the acquisition of UCB’s portfolio by CBC and Mubadala.
- Euro131 million – Combined net sales of the acquired portfolio in 2023.
- US$315 million – Similar funding round amount cited for CBC-backed Hasten.
- US$9 billion – Assets under management (AUM) by CBC Group.
- US$33 billion – Market size for the central nervous system therapeutics in China.
- $302 billion – Mubadala’s total managed portfolio across sectors.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CBC Group | Acquirer | Company | Asia's largest healthcare-dedicated asset management firm based in Singapore. |
| Mubadala Investment Company | Co-Investor | Company | A global investment company from Abu Dhabi, partnering in this acquisition. |
| UCB | Seller | Company | A global biopharmaceutical company based in Brussels, Belgium. |
| NeuroGen Pharma | Acquired Entity | Company | Newly formed company from the acquisition, focusing on neurology and allergy business in China. |
| Fu Wei | CEO of CBC Group | Person | Leader expressing strategic north star and impact of the acquisition. |
| Mohamed Albadr | Head of Asia at Mubadala | Person | Executive articulating Mubadala's perspective on the acquisition. |
| Jean-Christophe Tellier | CEO of UCB | Person | CEO of UCB discussing their future strategy in China post-acquisition. |